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How can I make 12k work the best?

3 replies

Mandalorian · 13/08/2019 16:17

In a few months time I shall have £12k which I want to put aside for DD for a house deposit. She doesn't live locally at present but is looking to move back with her partner in 2-5 years and buy a house in her home town where it's a lot cheaper.

Whats the best way of investing this money but still be able to lay my hands on it within a couple of months of her telling me she's coming home?

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RainOrSun · 13/08/2019 16:24

I'd put it in a cash isa, but I'm not the most savvy of investors!

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DustyDoorframes · 13/08/2019 20:34

If you give it to her she can put it in a LISA and get it topped up by the government, which is likely to beat any interest or stock market growth!

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JoJoSM2 · 14/08/2019 17:17

I agree that a LISA is a good idea. She can save 4k per year and will have 1k top up. I'd invest it in a decent fund although nothing too risky as she'll need the deposit soon.

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